The collapse of the Terra ecosystem will go down as one of the most painful and devastating chapters in crypto history. Gabby Jones | Bloomberg via Getty Images Several employees of South Korea-based Terraform labs, the company behind the stablecoin TerraUSD, which collapsed last month and roiled cryptocurrency markets, cannot leave the country, prosecutors said. … Read more
Celsius CEO Alex Mashinsky. Piaras Ó Midheach | Sportsfile for Web Summit | Getty Images Embattled cryptocurrency lending firm Celsius has asked users to give it more time to stabilize liquidity and operations after the market downturn caused the firm to freeze withdrawals for its customers. The cryptocurrency market has seen trillions of dollars of … Read more
The price of bitcoin fell below $20,000 for the first time since late 2020 on Saturday, in a fresh sign that the selloff in cryptocurrencies is deepening. Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping as much as 9% to less than $19,000, according to CoinDesk. The last time bitcoin was … Read more
Photo: Gotham (Getty Images) Infamous internet clown and horrible SNL host Elon Musk and his two large companies, Tesla and SpaceX, are facing a ludicrously large $258 billion lawsuit over…uh…Dogecoin. As I’ve said before, 2022 is just a wild year of headlines. Bloomberg reported yesterday that Musk and his companies are being sued over claims … Read more
The plummeting value of Bitcoin and turmoil across major cryptocurrency platforms has many investors fretting about their digital wallets and leaders in the space warning about a “crypto winter.” So what’s happening, and what does it mean for your portfolio? Here’s what you need to know. What’s happening to Bitcoin? Bitcoin is continuing a downward … Read more
The crypto roller coaster ride continue to plummet downhill fast. Coinbase, one of the largest cryptocurrency exchange platforms, is laying off 18% of its staff, or about 1,100 employees, according to a company SEC filing. The news also came in a letter to staff written by the CEO, Brian Armstrong, and tweeted out on Tuesday. … Read more
Celsius founder and CEO Alex Mashinsky as he appeared in a promotional video for Celsius uploaded to YouTube.screenshot: Celsius / YouTube The Celsius crypto network has halted all trading, including withdrawals, according to a press release from the company released overnight. The unusual move comes as major cryptocurrencies plummeted over the weekend and there are … Read more
The neon-blue coin hovered above a lunar landscape, five words etched along its perimeter: “financial power for the people.” Wealthsimple, a Toronto-based financial services company, circulated the animation in an email to its members in February alongside an exciting announcement: a buzzy cryptocurrency called TerraUSD was officially available to buy through Wealthsimple’s trading app. “Earth … Read more
Image: Justin Tallis (Getty Images) Watch out intrepid web3 entrepreneurs, the feds are cracking down on insider trading. Former OpenSea product manager Nate Chastain was arrested by the FBI early Wednesday morning in New York City and charged with wire fraud and money laundering in connection with an elaborate NFT insider trading scheme. In a … Read more
An attendant with the Meta Oculus Quest 2 headset on a virtual reality tour during the Mobile World Congress in Barcelona in March, 2022. South Korea is betting on the metaverse as the next big thing, but there are still questions over the shape the industry will take in the coming years. Joan Cros | … Read more
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